du (Emirates Integrated Telecommunications Company) today announced the signing of a $100 million financing deal with Standard Chartered, a leading international banking group. "As part of the company's commitment to regularly review its funding requirements we have signed a financing deal with Standard Chartered. The debt will optimise liquidity levels and allow us to fund both short and medium term capital expenditure in the most effective and efficient manner. We are pleased to have agreed the loan on good terms, benefitting from the currently favourable market conditions,' said Osman Sultan, CEO of du. "Our commitment to supporting the growth of the business and maximising the value we deliver to shareholders is unwavering and we are confident that we have a fully funded business plan and the financial means to support our future growth," he added. Jonathan Morris, Chief Executive, Standard Chartered UAE said: "Since its establishment, du has been playing a key role in the development of the telecommunications sector in the country and the region and we are proud to extend our support to this esteemed organisation. The UAE is one of Standard Chartered's key markets globally and we pride ourselves as a Bank that has deep relationships within this community. This financing facilitates du's international vendor purchases and is yet another example of our firm commitment and continuous support to our clients in the UAE." The financing deal with Standard Chartered, combined with the debt facilities recently agreed with DBS and National Bank of Abu Dhabi, will give du the financial flexibility to fund the future growth of the business.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor